Federal Reserve Chair Jerome Powell is facing heat from President Donald Trump, who’s back in the White House and already tired of waiting for rate cuts. Trump’s frustration with Powell’s slow pace on easing interest rates has reached a point where he’s considering replacing him this summer.

The gulf between where the Federal Reserve projects interest rates will be by the end of 2026 and the more aggressive cutting financial markets expect by then is partly due to the expectation that U.S.

Federal Reserve Chair Jerome Powell mostly breezed through two hearings on Capitol Hill this week but now heads into a much bigger challenge: a potential threat that President Donald Trump could under